Future Market Insights
The demand within the global implantable drug infusion pumps market has been rising on account of advancements in the field of medical research, pharmaceuticals, and disease treatment. The use of implantable drug infusion pumps for ensuring proper dosage of medication is a key consideration while measuring the growth of the global market. Implantable drug infusion pumps are surgical implants that are fitted underneath the skin to maintain regular dosage in individuals. These pumps are most commonly implanted near the abdominal region, and this makes it extremely important to follow strict safety procedures during implants. The implantable drug infusion pumps are connected to a catheter that helps is delivering medical dosages to the body. The total volume of revenues in the global implantable drug infusion pumps market is expected to reach new heights in the years to follow.
The advent of novel pharmaceuticals for gene therapy and biologics necessitates the use of implantable drug infusion pumps for treatment. These pumps have emerged as the most commendable advancements in the field of drug infusions and delivery. Hence, the total revenues within the global implantable drug infusion pumps shall invariably increase in the years to come.
On the basis of geography, the global implantable drug infusion pumps market can be segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The implantable drug infusion pumps market in North America is expanding at a robust pace in recent times. The regional implantable drug infusion pumps market has growth alongside advancements in surgical implants in the US.
Implantable drug infusion pumps are surgically implanted under the skin. These pumping devices release medications through a catheter or tube to a specific body part. Implantable drug infusion pumps ensure consistent delivery and is highly advisable during long-term medications. The release of consistent medication from infusion pumps aids in the reduction of pain when oral or topical medicines are unable to provide effective results.
Implantable Drug Infusion Pumps Market: Overview
Implantable drug infusion pumps have various potential benefits which have increased their usage over time. Such benefits include delivering targeted and consistent medication to a specific body part, reducing the side effects and chronic pain in comparison to other forms of drug delivery, providing relief to the patient from direct injections or discomfort of catheters and provides improved symptoms management.
Implantable Drug Infusion Pumps Market: Drivers and Restraints
Implantable drug infusion pumps market would grow during the forecast years as many multi-national companies are focusing towards new product innovations in implantable drug infusion pumps. Also, the market for implantable drug infusion pumps would experience a boost owing to growing incidence of pain, cancer and diabetes, rapid increase in geriatric population, technology advancements such as growth in wireless technology and introduction of smart pumps, increase in healthcare expenditure globally and pharmaceutical companies moving there manufacturing bases towards Asia-Pacific region which would reduce the overall cost of the implantable drug infusion pumps. The market for implantable drug infusion pumps would be affected due to the stringent regulations for new products owing to patient safety risks, high costs, and low reimbursement for implantable drug infusion pumps in the developing countries. In 2013, U.S. Food and Drug Administration Safety Information and Adverse Event Reporting Program announced regarding various product recalls owing to malfunctioning of implantable drug infusion pumps which delivered drug overdose leading to risks in patient safety, these factors have abstained the patients from the adoption of implantable drug infusion pumps.
Implantable Drug Infusion Pumps Market: Segmentation
The market for implantable drug infusion pumps can be segmented into product types, applications and end users.
The market for Implantable drug infusion pumps can be segmented on the basis of product types:
Patient-Controlled Analgesia (PCA) Pumps
The market for Implantable drug infusion pumps can be segmented on the basis of application:
The market for Implantable drug infusion pumps can be segmented on the basis of end user:
Ambulatory Surgical Centres
Implantable Drug Infusion Pumps Market: Region Wise Outlook
Geographically, the implantable drug infusion pumps market can be segmented into seven regions, North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East & Africa. North America is the most attractive region for the implantable drug infusion pumps market attributing to the robust pharmaceutical industry, a significant number of leading players are located in this region, increasing number of partnerships between technology providers and drug companies. Followed by which is Europe and Japan as the leading regions in implantable drug infusion pumps market. These markets are also growing significantly due to the focus on the favorable regulatory environment, new product developments for portable and lightweight implantable drug infusion pumps which would ease in the drug delivery method. Asia Pacific excluding Japan is also expected to show significant growth in implantable drug infusion pumps market due to increase in research and development activities, saturation in the major economies, and development of healthcare infrastructure in this region. Asia-Pacific excluding Japan region has the presence of many small players which are operating at a regional level and contribute to a significant market share of the implantable drug infusion pumps market.
Implantable Drug Infusion Pumps Market: Key Players
Some of the market participants in the global implantable drug infusion market are B. Braun Melsungen AG., CareFusion Corporation, Fresenius Kabi AG, Terumo Corporation, Medtronic Plc., Baxter International Inc., Smiths Medical, MOOG Inc., Johnson & Johnson Private Ltd., and Hospira, Inc. Currently, the market for implantable drug infusion pumps has the presence of many domestic and regional players which are manufacturing the products and its accessories.
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